Sales – Triton Properties
9:00 to 21:00 +356 2141 9167 (9942 3330; 9947 8564)
 

Sales

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Cost of Selling

Estate Agency fees – The usual rates are as follows. Sellers pay 5% of the sale price plus 18% VAT where there is no Sole Agency agreement and typically 3.5% plus VAT where there is a Sole Agency agreement in place.

Capital Gains – as from January 2015 a new property tax has been introduced called the Final Withholding Tax which is typically charged at a rate of 8% of the sale price (not the profit). Payment is made to the Notary during the selling process who then passes it onto the Inland Revenue.

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Target Market & Timing is Everything

The first step is to understand what is your target market, who is going to buy your property? Once you identify this then adapt your home accordingly. For example, if your market is for young couples with a small child then make sure the second bedroom is not an office as they will relate to it more if they can clearly see the second bedroom. Move the office space somewhere else within the property.

Also, identify the key times in the year when its best to sell your home. Understand that in Malta Christmas will be a quieter time as well as the build-up to Elections and big sporting events like the World Cup. Schools go back in October here so traditionally more viewings take place when children are back at school and the parents have more time!

De-clutter & de-personalize your House

Potential buyers need a “blank canvas” so they visualize living in your home. Therefore keep colour schemes simple and neutral. Avoid having big family photos and posters on the walls and especially in the kids bedrooms. Put things you don’t use that often away and out of sight. Try and make the property appears as large as possible so removing bikes or bulky objects are essential. Hallways are key, make sure they are neat and presentable as first impressions really make a difference. Hide products in the bathrooms and make sure kitchens aren’t cluttered with too many appliances on the work surfaces and that bins and tea towels aren’t smelly or dirty.

Make all DIY & Repairs

A fresh coat of paint can work wonders, as can a new kitchen or if budgets are tight then change the cupboard doors instead. New bathrooms and showers are also a huge selling point but a fresh grouting of a shower can also really help. Don’t let things seem tired or neglected. Pay careful attention to good lighting, especially down-lighters and make sure broken bulbs are changed. Avoid heavy dark curtains and make sure when viewings commence that lights are on and curtains are open allowing the light in! Using fresh flowers can also really aid the selling process. Get a snagging list together of things that need to be fixed and tick them off!

Clean the place up

Make sure the house is spotless. Get carpets and windows cleaned, sofa covers washed and it might be worth getting some professional oven cleaners in. Remember kitchens and bathrooms sell a place so pay particular attention to these areas. Make them inviting, fresh white towels in the bathrooms and a new loo seat work wonders. Don’t overfill storage areas and wardrobes as people will look inside. Gardens and outdoor space are now seen as additional rooms so make the most of them and focus on entertaining and relaxing.

Advertise

Always have a board or sign up if you can. Boards and posters really do work so if you have space be sure to have one installed by one of our agents. Remember contact is key – keep us informed of any price changes and circumstances with your property.

Viewings and Open-House

First impressions count so make sure the property is neat and tidy. If possible leave pets with a neighbour or if you have a dog go for a walk during viewings. Hoover up any animal hair especially cat hair as many people are allergic to it. If its cold outside makes sure the heatings on, air the house and don’t smoke or cook smelly foods before a viewing! If you have parking make sure space is free for a buyer/agent as this will the aid the whole experience.

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